I know that banking can have a lot of fees and such. But this bank is different. They have no branches and they do all their services via online or telephone. The fees are absolutely ZERO and their interest for savings is incredibly higher than any other bank. I'm new with them but so far they almost seem too good to be true. Has anyone ever used this service?
I have used it, and I've never had a problem with it. Ultimately I switched away to a different bank offering no fees and better offers on their accounts. I agree that the savings interest is high with ING Direct, but if you can get the same rate with a checking account through a different bank, you'd do the same as me---there's no reason to have unnecessary bank loyalty. Plus, it is nice to have a brick and mortar location near you in case you have specific needs that are best addressed by a living person that you can pin down and force corrections from!
I am not sure why CSomm would switch banks saying if you could get the same rate with a chequing account. Reason this post confused me is that ING does offer chequing accounts. I have been using ING for about nine years now. In the same account, I have a chequing account, savings account and a tax-free savings account. My mom signed up for one two years ago and she also has a savings and chequing account. Many of my friends also use them.
I believe I checked into them once, and you had to have a credit score of a certain number to be able to open the account I think.
I've been with them for a few years and have had no problem. They are now run by Capital One as Capital360. Though I hate the only branch by me lets you only do the same things a person can do with a home internet connection, it is good to know that I can use my ATM card at many places for free. Most of the time, I have no problem with check deposits except for when I have a personal check, which I send through the U.S. Mail and my account get credited almost immediately.
